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the world. there are a lot of questions, too. the sharing economy waits to be shaped by policy. it is in its adolescence. this is a transformative moment. it is waiting to be shaped by policy, but for whose benefit? we believe it should be shaped for the benefit of as many people as possible, and especially for those who need it the most. . we also need new regulations, not simply application of the old. otherwise, the sharing economy will fail to meet its promises. 30 of things that are the biggest threats to our society. i will open a panel -- there are two things i think are the biggest threats to our society. i will give you a high level brief of the sharing economy. there is no textbook definition of the sharing economy. we will then begin the panel discussion which will last for 45 minutes or an hour, however long you want it to last. before i dived in here, raise your hand if you are familiar with at least one of these books. i highly recommend all of them. the one on the end is coming out in may. "share or die" -- i do not recommend that for marketing, but for a cause, we're trying t
discussed impact any of the schering economy companies. you could also see opportunities to educate the public or just gain awareness for the services through the city and existing programs. >> i forgot to repeat the question, but the question is -- what regulations to the company's what? >> that is a great question. we would love the city to educate themselves and help educate the rest of san francisco about what this is and defined it is something -- as something that is not a hotel. and create regulations tailored specifically to this activity and make sure that this definition and these regulations are applied consistently in the tax code, the administrative code, and the planning code, to make sure there is some coherence about how the activity is treated and regulated. >> i mentioned earlier, running around doing deliveries. some sort of collaborative consumption, schering economy parking permit, parking pass along those lines would be very helpful, as well as just generating awareness here in other cities -- for instance new york city -- the mayor did endorse utilizing compan
valley. what does a second term for president obama mean to the economy? i will talk to two former top presidential advisers and sea if they think we can avoid the fiscal cliff. how to stay safe and find the right sectors in the mark and jamie dienl of jpmorgan chase. regulation, policy and too big to fail. the "wall street journal report" begins right now. >> here's a look at what is making news as we head to a new week on wall street. if if toward thought they would get a bounce after the election, they thought wrong. president obama's second term victory was greeted with stocks worst day of the year. the dow fell 300 points on wednesday and triple-digits on thursday and and the markets were mixed on friday. bond rating agency moody's reiterated the possibility of a downgrade if america goes over the fiscal cliff but said it would wa wait after budget negotiations. a downgrade will make it more expensive for the united states to borrow money. >>> superstorm sandy would provide an economic boost to the auto industry. 250,000 new and used cars may have been ruined by sandy. a loss that
mean for the economy? i'll talk to advisers and find out if they think we can avoid the fiscal cliff. and how to position your investments, stay safe and find the right sectors in the market. >>> and outspoken banker jamie dimon of jpmorgan chase. too big to fail. "the wall street journal report" begins right now. >> this is america's number-one financial news program. "the wall street journal report." now, maria bartiromo. >> here's what's making news as we head into a new week on wall street. if investors thought we would be getting a certainty bounce after the election, they thought wrong. in fact, president obama's second-term victory was greeted with stocks second worst day of the year. triple digits again thursday, and figures were mixed thursday. the possibility of a u.s. downgrade if america goes over the so-called fiscal cliff. but said it would wait until after budget negotiations. a downgrade, of course, would make it more expensive for the united states to borrow money. >>> superstorm sandy could provide an economic boost to the auto industry. as many as 250,000 new and u
to establish a demilitarized zone. >>> many investors are wondering where the japanese economy is head headed. we have more from the business de desk. what are investors looking at as they start their week? >> a major figure just came out, and it doesn't look too good. we learn that japan's market analysts have had their fears confirmed with the release of new figures the japanese people have experienced negative growth over july to september. that's the first time in three quarters the economy had contracted. cabinet office officials said monday the couldnntry's real gd fell .9% from the previous three months. that's an annual decline of 3.5%. business owners found their exports shrank 5% due to the economic slowdown. consumers spent less by .a5% as auto sales declined. corporate leaders found capital expenditures down 3.2%. analysts expect continued negative growth in the october-to-december quarter as worsening relations with china dampen exports. >>> as we just saw, the latest figures from japan suggest its economy is facing a setback. let's take a look now to see how markets are reacting
. the sharing economy presents a nuanced situation. individuals are not businesses but are enjoying a new stream of income. we are interested in having that conversation in a way where we can use the new economy to benefit the city as well as individuals who are proactively taking all entrepreneurship in their own hands to leverage their own resources and knowledge to supplement their income. >> at task rabbit, we're looking to partner with the city and generate more awareness around what we do and how consumers and small businesses can get involved. we have a lot of small businesses utilizing the network as a delivery force or on demand labor force, particularly with seasonal businesses. they do not want to have to hire a bunch of full-time employees for a month or two of work. they're able to utilize the task private network to scale up and down. another case we see is for deliveries. suzy cakes uses task rabbit to get her goodies out. these tasks rabbits are using their own vehicles to do the deliveries. it is typically for a quick five-minute stop. one thing we have been brainstorming with t
ministers to say the economy may already be in recession. one step forward, two steps back. greek lawmakers approve 2013 budget, but germany warns brussels aren't likely to sign off on the next tranche of aid at their meeting today. lorenzo tells cnbc greece needs more time and he's urged europe to extend the company's debt maturities. plus president obama will get a lot of input this week from civic leaders on how to tackle the looming fiscal cliff before he sits down with house and senate leaders on friday. we're up and running for a fresh week of global business news. we'll hear from kelly fairly shortly. also on today's program, we'll be in brussels ahead of the important euro group meeting. focus there on greece and the eu budget. after the weekend, talks collapsed. and the annual world energy outlook report in an hour and plus analysis of where oil prices can be headed. and best buy gets set to join the tablet wars with it insignia flex. what can it offer to customers that the ipad, kindle 5 and surface can't. the first japanese government may be forcesed to lower its outlook for the
on the new collaborative economy. we're interested in it because it has aspects that have piqued our interest, about hoour environment, how to improve life for more people, how to make an expensive city more affordable to more people, how to utilize the strengths of the city as a great tourist city. how we can get more folks to come and experience the wonders of the city. maybe they will make their stake here. these panel members have decided to make their stake here. they risked reputation, may be small amounts of money. if they had a lot of money, they may not have had to start this. they have also done it for the right reasons. they want to experience the city in a different way, but one that is in the tradition of san francisco and is reflective of mine, welcoming more people to share in the economy. hopefully the right reasons will create more jobs and get more entrepreneurs involved. i have often said this can be the city for the 100%. everybody can have a chance to fulfill their dreams and make sure they can have a stable income for themselves and their families. i think we are on the
. >> host: so a couple powerful phrases in the book were read economy. you can attach a that number if you could explain a little more clearly. in a competitive market, government was set to rule and instruments to with liberalism adjustables as physicists figure out how to have a level playing field as possible. you have to keep trying to make sure the playing field is level how to allocate capital and to succeed. it's also natural tendency to hate towards monopoly or duopoly, or a couple successful firms keep getting bigger and bigger and removing competition. when that happens, once your monopoly or duopoly, you don't want to invest in innovation. you don't want to take risk. you just want to mind the market for right-thinking in which means earning profit in an economy. all of these rules and regulations in every shop tour i'm sure you've read things you have not read in the news media. i show again and again the market is being. this is terrible and explains why we are in economic doldrums and my redundant job creation. >> host: let's go through some of these examples. we'll get back
westgate in london on all of that. japan's economy shrank, first contraction since last year. the data adding to signs of slowing global growth and tensions with china nudging the which i into recession. and yen minute's main oil export pipeline shut after it was blown up in two pieces. local news organizations didn't identify the attackers, but they've been repeatedly sabotaged. finally, iran launched a military drill across half of the country today. government warning it would act again against aggressors. >> where is your jacket? >> i decided in high spirit of rising above to take it off today. but i can't find my pin. >> i'm putting mine on right now. >> it's you saunderstood we're above. p. >> and you're about to talk about corporation news we haven't especially touched on petraeus. maybe we'll sneak that in. >>> htc announcing a global patent settlement and ten year licensing agreement. the deal sends one of the first major conflict of the smartphone patent wars. apple sued accusing the company of infringing on its technology. and citigroup will pay 15.5 million each to former c
, but an acknowledgment of the work that lies ahead. we understand that this is a global economy. the opportunities are ones that we can only surpassed if we come together. we can win the future if we dream together, if we work together. as a society, as an economy, the best is yet to comment. let me leave you with this last idea. every moment affords us an opportunity to change the world. let's seize that moment in each and every moment that succeeds that moment and let's do that together in celebration of our asian-pacific heritage and recognition of the great heritage as all the people that make up san francisco and california. we will truly honored this month, our heritage and our future. thank you very much. [applause] >> ok. all right. we have some competition on the stage right now. >> a couple of other people we need to thank. we have a bunch of co-hosts, the san francisco board of supervisors. a round of applause, please. [applause] our event shares and co-chairs. [reading names] >> all right, thank you. [applause] >> those people give money, so please applaud. >> next, i would like to int
right now moody's has a negative outlook on the u.s. economy. worries about a fiscal freefall, kept wall street stocks in check: the dow and nasdaq fell a fraction, while the s&p was up a fraction. american businesses are not only concerned about the fiscal showdown in washington, but also about corporate earnings. nearly all of the s&p 500 firms have reported numbers, and profit growth is the slowest since the recession in 2009. and the majority of firms are also reporting disappointing revenues. here's erika miller with a look back at the quarter, and a look ahead. >> reporter: earnings season is drawing to a close. and for many firms it's good riddance. nearly all of the s&p 500 have reported quarterly numbers, and according to s&p capital i.q., profits are up a measly 2%. thomson reuters and factset crunch the numbers slightly differently, and believe profits are actually down. the bigger concern is revenue growth. s&p has the most optimistic analysis with a 0.6% gain. the other two firms see negative growth. firms face an almost universal problem: a slowing global economy. >> compan
boehner challenging president obama to lead us. his first comments on the economy sense reelection, he ems emboldened by his reelection. with more on this, chris stirewalt. it is great to have you here. i want to start by talking about what the president had to say today. he seemed pretty firm on what he said so far about what we need to do with taxes in this country. here is the president. >> i am open to compromise. i am open to new ideas. i am committed to solving our fiscal challenges. but i refuse to accept any approach that is not balanced. i am not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me, making over $250,000 are not asked to pay a dime more in taxes. [applause] gerri: chris, jay carney comes out a few minutes later and he says, well, the president says he will raise taxes on wealthy. so where is the compromise? >> the hope is that the compromise lies in a broader reform. but as you know, this comes down to chime in. you have the fiscal cliff. what democrats want to do really -- what they want to do is use this
the economy. and we were surprised by his candor. mr. chairman, i'm gonna start with a question that everyone wants me to ask. when does this end? [stopwatch ticking] >> no one comes in without f.d.i.c. badges. >> could your bank be shut down? that's what's happening to this bank and to banks across the country. it's being done in secret by a group of agents led by the f.d.i.c., who move in after closing time when a bank has failed. [stopwatch ticking] >> it's weird economics when it really comes down to it, isn't it? >> well, from our perspective at the united states mint, it's unsustainable. you can't sustain losses on pennies and nickels and expect to be a viable organization that benefits the american people. >> welcome to 60 minutes on cnbc. i'm leslie stahl. by most accounts, the financial crash of 2008 pushed the u.s. economy to the brink of collapse. in its aftermath, some of the country's biggest banks received very big bailouts while large numbers of small local banks failed. this edition features a unique inside look at the seizure of a failed bank and a rare interview with one of
on the economy and wanted to make the obama economy, but he woke up wednesday morning and probably saw an exit poll figure that had him devastated for people, 50% of the electorate still thought this economy was george w. bush's fault. it's astonishing. >> it's astonishing. >> and one of the failures, not making a distinction in the campaign, the theme explanation why he would be different than george w. bush. when we come back, the soul searching begins as republicans face another four years of a democrat in the white house and at least two more in the senate minority. what the party needs to do to 5-hour energy? 5-hour energy supports the avon foundation for women breast cancer crusade. so i can get the energized feeling i need and support a great cause? i'm sold. pink lemonade 5-hour energy? yeah and a portion of every sale goes to the avon foundation for women breast cancer crusade. i'm sold. new pink lemonade 5-hour energy. get the alert, energized feeling you need and support breast cancer research and access to care. >> another white house loss for the g.o.p. coupled with their failure
president obama for winning the election. other questions focused on the economy, cuts in the health service and trade relations with the united states. this is about 35 minutes. >> order. questions to the prime minister. mr. ian wright. >> question number one, mr. speaker. >> the house will know my right honorable friend, the prime minister is on an official overseas visit to the middle east. mr. speaker, the whole house would wish to join me in paying tribute to the two british soldiers killed in afghanistan last week, our heartfelt condolences goes to the families and friends of these brave service men and with remembrance day on sunday we're once again reminded of the remarkable job our armed forces do to ensure our safety and security. furthermore, mr. speaker, the house would wish to join me in paying tribute to david black the northern island prison service officer who was shot and killed last friday. as my right noble friend, the secretary and state of northern ireland said in the house on friday we utterly condemn this cowardly crime. our thoughts are with david's wife and children
. other questions focused on the british economy, cuts within the health service, and relations in the united states. this is about 35 minutes. >> order. questions for the prime minister. mr. ian wright. >> number one, mr. speaker,. >> mr. speaker, i've been asked to reply, the house will know my right honorable friend the prime minister is on the official overseas visit to the middle east. mr. speaker, the whole house will wish to join and contribute to the two british soldiers that were killed in afghanistan last week. lieutenant edward baxter and lance corporal of first battalion royal gurkha rifles. our heartfelt condolences to the family and friends of the brave servicemen. any particularly poignant we force all. we will once again are reminded of the remarkable job our armed forces do to ensure our safety and security. >> for the more the house will wish to join me in paying tribute to david black the officer shot and killed last friday. that's why right honorable friend the second state said in the house on friday, we utterly condemn this cowardly crime. our thoughts are
, for the foreseeable future, you're waiting for some sort of sign the economy -- the growth in the economy and reflation effort is going to take hold, is that it? >> the market has to believe it's going to be enough, by way of context. the fall from apple from peak to where it is now is $100 billion of market cap. $40 billion a month. the numbers are so billing and yet the federal reserve talks in billions when we live in a world of trillions. >> so what's the -- what's the best plan here, then, toward year-end? we have the clarity of the president in the white house but we have no clarity in terms of these taxes. i'm just wondering how many of you actually think we will see a compromise or are both sides going to continue to dig in, creating a real inaction for the next couple of years? >> michael first? >> i think have you to separate a grand bargain from extending out the deadline. our belief is very likely you'll get some kind of downpayment past this year and an extension of timing until the middle of next year. one thing we would encourage investors to remember is how much pressure i
the economy. >> i think the prospects have a markedly improved as a result of the reform program and the government's bold actions. >> many in portugal have lost faith in european leaders. antagonism towards the heads of the german and portuguese governments has reached new heights. >> the way they treat us is a joke. he is no more than merkel's puppet and what they're doing is just wrong. the sacrifices we are being asked to make our a reasonable. "she is just one of many voices calling on them to live within their means but many face an uncertain future with increasing poverty levels and they are determined to resist any more economic pain. >> as we just saw, the portuguese austerity measures are not very popular. we asked our correspondence much and she had today to convince the portuguese of the need for continued austerity. >> she said she is here to see firsthand how the process is going on. her colleague told her about the process and of course she was already a winner of the statistics showing portugal is on track, as they always say they are, but unfortunately people hav
this administration, under republican administration. >> reporter: experts warn of serious damage to the economy if the standoff drags on. >> if three or four weeks from now they're making no progress at all, you're going to see the anxiety and the nervousness growing both in the markets and in corporate boardrooms. it's going to be a rough two months for the u.s. economy. >>> two weeks after the destruction from hurricane sandy, victims are still trying to put their lives back together. more than 100,000 homes and businesses in new york and new jersey are without electricity as they struggle to rebuild. a 77-year-old man has died of injuries from a fall as sandy hit new york, bringing the city's death toll to 43. janet napolitano visited with disaster relief victims. >>> now for a look at your weather, here's bill karins with a weather channel forecast. very good morning to you. >> have a good weekend? >> i did. it was nonexistent. i'm just kidding. it's coming up, actually. so it's okay. >> i understand that. some of us work weekends every now and then. here's what we're looking at today. big
. >> host: so the powerful faces in the book to me or their rickety economy but if you could explain a little more clearly. >> guest: in a competitive market the government would set the rules and as the germans do with what they call the liberalism adjust the rules as the businesses play the rules you are not going to have protection but you have to make sure the playing field because the market will figure out best who should succeed in the capitalist market to head towards monopoly or duopoly that getting bigger and bigger and bigger and when that happens when you get is the ones you are a monopoly or duopoly come you don't want to invest in innovation you just want to mind the market and to rent seeking by which they mean earning profits greater than you would get in the market economy. when you add to that all of these rules and regulations in the book and every chapter as i am sure you've read things you haven't read in the news media show how again and again and again the market is being rigged but this is terrible and helps explain why in the economic doldrums we don't have t
ended stimulating the economy of the people's republic. but it seems like very few people in the west have noticed. i have to tell you, our big industrial stocks, they're trading valuations that assume a depressed chinese economy, one that's not going to get any better. look, that's just wrong. it's not empirical. it's not rigorous. we just got some data overnight which showed china's exports have come to a five-month high. that is not something you see from an economy that is about to crash and burn, is it? i'm not saying that china is fabulous and should be jumping for joy because of the state of the economic climate. but i am saying that the chinese negatives seem to be priced into all things china related. the chinese economy, i think, is in the process of bottoming. and based on what's been happening, i think it will have the kind of gentle soft landing that very few investors, particularly the short sellers, are expecting. in other words, china is far from great. it's a heck of a lot better than the vast majority of people think. a lot of that is thanks to the chinese government
that what voters care for our jobs and the economy. immigration is either number two or number 3 on their list of things that they care about. it is much higher in places like arizona. it is the number two issue among hispanics. my sense has been that i do not think hispanics always want to be associated with immigration. it is difficult to separate the immigration conversation from them because it is so integral to their lives. 60% of hispanic voters know somebody personally that is undocumented and they could be dating that person or it could be there brother or father. i have talked to people about this. hispanic advocates tell me that it is hard to separate immigration from them. that could change if there is a revolution. they are the driving force behind it. host: a couple of facts from the pew center. people ages 98-29, the youth -- people ages 18-29 make up about a third of all eligible hispanic voters. guest: this is an issue that is closer to their hearts. host: the projected population growth among the latino community. made up of about 17% of the population in 2011. i
economies for the second terms. that emboldened them to be braver than they might have been. are you hoping you are going to get the kind of economic security if not prosperity in this term that will allow you to do, perhaps, the things that barack obama when he sailed in on hope and change hoped he could do? >> well, piers, i do believe the economy is improving. but i want to challenge a bit of your premise, because one of the reasons the economy is improving is because this president was brave. it was brave to intervene and save the auto industry, which was not a popular decision at the time. it was brave to move forward on the recovery act. which again was not popular at the time. and still is the source of controversial, because without that, we would have slid into a second great depression. it was brave to stand up the financial industry when it was on the brink of collapse. even though that was an unpopular thing to do. because he understand that we needed to do these things to move the economy forward, and now we are reaping the benefits of that bravery and good decisions because th
coalition and perhaps the fact that the economy got a little bit better is another fundamental fact but all these other things preoccupied us for some time. you can only, looking back, see those 20 debates that bushed everybody, including romney who became a moderate much too late to get that nomination. >> it is still striking. you have some 70% in the exit polls who believe the economy is in bad shape, 52% who feel like the country is off on the wrong direction. a lot of opposition thought to president obama and his policies and yet he prevails because of a coalition ever expanding that believes in a certain role for government, bob, that is opposed to where the republicans would like to take it. >> i think the big picture here is that president obama has got to deliver on the big issue, which is fixing the financial house of the u.s. federal government, it is in disarray, not just the fiscal cliff but $16 trillion in ious out in the world. in a couple of months, in february or march, they are going to have to renegotiate borrowing authority for another trillion or two dollars and if the
. it has already started doing that. do you see broader implications for the stock market and economy? >> yes. the small-business start-ups are down. they will continue to be down. we have fewer ipos now than we had ten years ago. companies just don't want to be public because of all of the regulations. venture capital is down. there is less investment in new businesses. gerri: whose fault is that? whose fault is that? >> i think the fault is directly on the government because they have added a tremendous amount of insecurity. what we are talking about with obamacare, as of 2014, a barrage of provisions, taxes. i mean, what they are saying is that they are declaring war on business. this idea that what apple bees is doing is wrong is unbelievable. they have to make a profit. if they can make a profit, they have to reduce their employment. gerri: you say that will happen with a lot of businesses across the country, presumably there are lots of ways to get -- more than one way to find a solution. what do you think would work at this point to get these two sides together to find some kin
on the economy. but in fact, that's the part of the bargain that you have to do. and we're at historic lows on revenues. so i've always agreed to it. i voted for the simpson-bowles, i've been part of the gang of six, gang of eight. i agree that we have to go there, but how we go there is very important in terms of the incentives for capital investment in this country. and we have do it in a way that does not diminish that. >> let me turn quickly to lessons from this election and where things go beyond this negotiation over fiscal matters. senator schumer, immigration. are we going to get comprehensive immigration reform? it sounds like, if you listen to the house speaker, they've had a chang of heart, they want a comprehensive plan. is there news to be made on this? >> yeah, i think so. senator graham and i have talked, and we have resuming the talks that were broken off two years ago. we had put together a comprehensive, detailed blueprint on immigration reform. it had the real potential for bipartisan support based on the theory that most americans are for legal immigration but very much
to austerity too early. we pushed the economy back into a recession. this would reduce gdp by about 3 percentage points. maybe a little bit higher. since we're only growing at about 2, that would put us into negative territory for all of 2013 and get unemployment back into the 9% range. >> bill: when we're talking about the fiscal cliff we're talking about what is also called sequestration. >> sequestration is part of it. fiscal cliff on january 1, a bunch of tax increases about $500 billion. on january 2nd, it is about $120 billion in spending cuts. the combination $600 billion or so would be the largest one-year nominal reduction in the deficit in history. >> bill: in one year. >> in one year. it is what all of the deficit hawks have been wanting and now they're saying let's not go there here. you've got the ceos from all of the companies saying basically stop the fiscal cliff. what they're really saying is we like higher deficits. they're good. >> bill: what brought about the fiscal cliff? >> it is a combination of
drawing lines that they say they will not cross. the major hurdles, that threat to send the economy into a tailspin, that's coming up next. >>> plus a nascar race turning into a full-scale brawl. look at this. mayhem breaking out of the everybody going at it. we'll tell you what set it off. after this. ve lately. but because of business people like you, things are beginning to get rolling. and regions is here to help. making it easier with the expertise and service to keep those wheels turning. from business loans to cash management, we want to be your partner moving forward. so switch to regions. and let's get going. together. jenna: well come back, everyone. now let's return to the economy. the president and house speaker john boehner are suggesting they are willing to compromise to prevent our economy from going over that so-called fiscal cliff but both sides are digging in their heels whether or not to race tax rates for the wealthy. rich edson of the fox business network watching this all for us in washington. democrats got the white house, they got the senate. how are they beg
believe this will hurt the economy. by the way, you heard speaker boehner make that same statement earlier. melissa: what was your impression, i mean, i'm talking with him one-on-one? >> one of the things i get annoyed at is the idea that somehow the spending cuts, the automatic spending cuts will hurt the economy. i do not believe that. melissa: why? why do you not believe that? >> i do not think so. wall street has tumbled so much in the last week and that does not have anything to do with the spending cuts. we knew they were coming from the last year. melissa: it has to do with raising taxes. if you cut spending all of a sudden, how would that not hurt the economy? >> i went to the last five or six times in the last 100 years but we actually cut spending, it does not happen very often, as you know, melissa, and washington. if you cut spending, you make more money available to the private sector. by the way, the attitude that cutting private spending will hurt the economy, increasing government spending would reduce unemployment. that did not work out so well. i think those are two entir
in this country of the vital viewed. the last thing you want to do in this economy is raise the price of their productivity. connell: i find that very interesting of a response. you are saying they would be in the minority party if they go along with his advice which is essentially to let the taxes go up on $1 million or more instead of to 50,000. does the party take the blame for that and isn't that a bigger risk, politically? >> i do not think so. let's look at what happened on tuesday. they get the republicans in the house of representatives. that was their way of trying to say we want you to remain in control here. if the republicans pull back and raise taxes, they will pay for it in a big way in 2014. connell: what if they allow revenues to go off in another way? broaden the base of people who pay taxes and then close some of these loopholes and that that you bring in more revenue. would that be acceptable? >> we do not have a revenue problem. if the republicans compromise as in a lower income tax rates, -- connell: less than 50 days until this so-called fiscal cliff. what do you
are critical in order to get the economy growing again and people back to work. and i think that is the over -- it's certainly the number one domestic challenge. my point is it's always the number one national security challenge. why? because a healthy economy and a healthy balance sheet undergirds everything we do internationally. it funds our military, it gives strength to our diplomacy, it allows us to be an attractive trading partner which gives us economic influence. it undergirds everything we do overseas. but secondly, it also undergirds the power of the american idea. the american idea is political democracy and free markets makes for a stable situation in the long term but also makes for a prosperous society that is able to deliver on its people. that is really what america has stood for. and by our failure to resolve our own problems and get our economy growing and going again, we undermine the strength of the american idea internationally. and that's why countries are flirting with this notion of, well, maybe china has it right; state capitalism plus keeping your people in line. a
were the issues americans cared about. economy and then a big storm on the east coast. they covered it and they covered it pretty well. >> jon: the exit polls thought that voters mitt romney was better equipped to handle the economy than barack obama. >> then it says something about the attitude toward the two men and they made a choice or the two parties and they made a choice. if you just go by viewers, fox mrs. msnbc, romney should have won three to one. >> jon: exit polls, some suggest reflected sort of the media theme that barack obama is a kiachbd of the little guy and middle-class and mitt romney is a rich guy that only cares about rich guys? >> i think it's clear that obama is the person who is looking to have middle-class tax cuts and mitt romney was to give tax cuts to rich people. what i would say, the reason i don't think the media played as big of a role in this. the reason barack obama won is because he ran a superior campaign. it was very targeted in these battleground states. i would be more interested in seeing exit polls from the battleground states which unfortuna
, and the economy. without it, things simply can't exist. woman: we have good health in this country, in part, because we have clean water. and we shouldn't forget that, and we shouldn't take it for granted. melosi: in the late 19th century, serious waterborne disease epidemics were having devastating effects. roy: but then, in the early 1900s, we began to treat our water. and since then, we've seen a rapid decline in the incidence of waterborne disease. narrator: most cities treat drinking water through filtration, chlorination, and sometimes ozonation to kill pathogens in the source supply. these are complex treatment plants that cost millions of dollars to operate, but are necessary for our wellbeing. the treatment of drinking water has been called one of the greatest public health achievements of the last century. the water infrastructure itself protects the treated water until it comes out of our taps. it's been since 1911, since we had an outbreak of cholera or typhoid in the united states. but that doesn't mean that it can't happen. it can happen. if we aren't on our guard all the time
, positioning themselves to blame the other if things fall apart. sam say it would drive the economy back into a recession. the halls of the capitol, eerily quiet as congress commemorates veterans day. but this stillness will soon be replaced by frenzy to avoid the fiscal cliff. public posturing, however, is well under way. we can't accept an unfair deal that piles all of this on the middle class and tells them they have to support it. >> you do have to have revenues on the table. but that does not mean raising taxes. >> reporter: but there are new cracks in that gop pledge, conservative commentator bill crystal. >> it won't kill the country if we raise taxes a little bit on millionaires. i don't understand why republicans don't take obama's offer to freeze taxes for everyone below $250,000. >> reporter: he doesn't get a vote. gop senator bob corker does. >> we know there has to be revenues. look, i haven't met a wealthy republican or democrat in tennessee that's not willing to contribute more, as long as they know we've solved the problems. >> reporter: still, even if republicans agree t
the economy growing and get the jobs being created and that means more revenue -- >> let me ask you, i want to ask you directly. would you accept the piece-meal, let's just pass the tax -- extension of the bush tax cuts for the 98% of people under 250? >> it doesn't make any sense to us to raise taxes on job creators at this time of economic challenge. the equation is revenue, and spending. and, we can increase revenue without increasing the tax rates on anybody in this country, we can lower the rates, broaden the base, close the loopholes, as you have discussed. and put in place pro-growth policies in energy and health care and the regulatory policy and address the spending. and the spending that has to be addressed is, medicare, medicaid and social security. >> chris: just so i can clear this up, you are not -- boehner seemed to be saying, i am going to close some of the loopholes and use some of the revenue, use some of the revenue from closing loopholes to cut the deficit. are you accepting that or not. >> i think that is the way we can reach agreement and i think what many of us are sa
conservative leaders will be spectators over the next two years. >> more jobs lost, the economy down in who years, people will want answers. republicans notom need to have the answers but they need to spend the time in the districts today. >> as for the governor, his own party now has the ability to override his vetoes and the ability to raise taxes on their own. >> i voted for it. the only way to raise a tax is ask the people. >> leno said they will close the loopholes and the focus is is not on increasing taxes, republicans call that a bluff. >> the first tax increase, the next tax increase is never the last tax increase. the last time california had a super majority was back in tphaep33 and that time it was the republicans in power. the new legislators will be sworn in on december 1st. >>> berkeley's measure is still counted tonight. now t shows that it is losing. 5 days after the election measure s trailed by about 1400 votes. it would outlaw people sitting on the lawn during business hours. measure t, allowing taller buildings in berkeley is losing by 400 votes. a dramatic rescue. 20-y
. >> reporter: experts warn of serious damage to the economy, if the standoff drags on. >> three or four weeks from now, they're making no progress at all, you're going to see the anxiety and the nervousness growing in the markets and the corporate board rooms. >>> two weeks after the destruction from hurricane sandy, victims are still trying to put their lives back together. more than 100,000 homes and businesses in new york and new jersey are without electricity, as they struggle to rebuild. a 77-year-old man has died of injuries from a fall, as sandy hit new york, bringing the city's death toll to 43. >>> homeland security janet napolitano met with disaster victims in new york. >>> and now, for a look at the national weather, we turn to bill karins with the forecast. good to see you. >> good morning. it was a beautiful day for all of the people in the cleanup area and the zone. a lot of volunteers all over the place. hard to believe 100,000 people without power still. it's crazy. let's talk about the temperatures. that's the big weather story today. look at the contrast. the cold air and th
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